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Dhaka, Bangladesh (BBN): The initial public offering (IPO) subscription of Familytex (BD), a Chittagong based cent per cent export oriented garments manufacturer, will start on April 7, 2013, officials said.

The subscription will remain open for the resident Bangladeshis till April 11 while it will be continued till April 20 for the non-resident Bangladeshis. The company also opens a separate form for affected small investors in line with the regulator's directive.

The Familytex (BD) will raise a fund worth BDT 340 million through the IPO that will be used for repayment of high interest bearing loan to boost the profitability, cash flows and solvency.

The Bangladesh Securities and Exchange Commission (BSEC) approved the IPO prospectus of Familytex (BD) to go public on January 22, this year.As per the approval, the company will offload 34 million ordinary shares at an offer price of BDT 10 each without premium. A market lot is 500 shares.

According to the latest financial statement of December 30, 2011 earning per share (EPS, diluted) of the company is BDT 0.92 while Net Asset Value is BDT 11.82.